(Jonathan Brady/PA) (PA Archive) Nationwide cut rates on its mortgages hours after a top Bank of England policymaker indicated that the bank’s interest rates may be cut but will remain high for a long time Once again cut.
Nationwide slashed rates on its mortgages once again, hours after a top Bank of England policymaker indicated that bank interest rates may hit a lower level than expected but remain high for a longer period of time. has been deducted.
The country’s biggest building society cut several of its fixed rate mortgage products by 0.15 percentage points, while also introducing cuts to some of its tracker ranges.
Ashley Thomas, director of city-based mortgage broker Magni Finance, said although the cut was not large, it was the latest in a wave of cuts in which all top lenders have cut rates at least three times in the past six weeks.
“It looks like a lot of lenders are currently lowering their rates,” Thomas said. “I expect this trend to continue and most expect this to be the start of a price war. The next set of inflation data will be a big factor in whether the rate cut will continue.
